Bordeaux Châteaus Say They’ll Lower Prices: Wine SpectatorApril 11, 2012
Wine professionals from around the world have descended upon Bordeaux to taste the new vintage, and some of the region’s top châteaus have said they will release their 2011 wines at much lower prices than last year, reports Wine Spectator.
Wine Spectator senior editor James Molesworth’s 2011 Bordeaux barrel tastings have shown a vintage of mixed quality. Two things make a price reduction within the realm of possibility: lukewarm Chinese interest and a vintage that doesn’t incite wild speculation.
Many in America and Europe elected not to buy Bordeaux futures last year when the 2010 prices were released, giving up their seats to the Chinese. Loyal customers were willing to shell out for the 2009 vintage, despite record prices, but when 2010 prices were even higher, they balked.
“The Bordelais learned from their arrogance and incompetence last year, ourselves included,” said Jean-Guillaume Prats, CEO of Château Cos-d’Estournel. “The wines will be released early this year, and I think we will have some real interest from the U.S. if the prices come down. There has to be a substantial price reduction to make it appealing to Americans.” Classified-growths should start coming out this week, and executives at the first-growths have hinted that April 13 is their release date.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.